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SWIP multi manager fund well placed for the year ahead, say managers

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Scottish Widows Investment Partnership’s multi-manager team has realigned the portfolio of its diversity fund to take advantage of the economic change anticipated throughout 2009.

Scottish Widows Investment Partnership’s multi-manager team has realigned the portfolio of its diversity fund to take advantage of the economic change anticipated throughout 2009.

The SWIP Multi-Manager Diversity Fund is managed by AA Citywire rated managers Mark Harries (pictured) and Simon Wood. The fund invests in a wide range of asset classes and geographic regions with the aim of delivering consistent, smooth returns.

The strategic equity weighting in the fund has increased to 34 per cent, which is a neutral weighting for the portfolio

Harries says: "We anticipate a significant upturn in the equity market. We are not predicting a return to a bull market but we are of the opinion that there will be a sharp rally. We want our customers to benefit from that rally and so have increased our exposure to equities."

The increase in equities in the fund has been achieved via investing in i-shares. i-shares, the market tracking mechanism, allows the full exposure of the rise in the market to be realised. The commodities weighting in the fund has also increased.

Wood says: "We believe there is good up side potential in both oil and gold. Oil prices have started to rally and with Opec announcing a cut in production, supply issues will come to the fore. Quantitative easing could feed through to the UK economy as inflation later in the year. In this scenario we will ensure we have inflation protection built into the portfolio by holding commodities, properties and index linked bonds. This asset mix means the fund is well placed for the year ahead."

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